An indexable insert drill has been previously developed as disclosed in co-pending application Ser. No. 789,354 employing a pair of inserts having a lead angle in the range of 0.degree. to 5.degree. which either may be positive or negative, the cutting edges of which sweep through a common cone of revolution with one radially inner insert having an arcuate corner extending across the drill axis and the other radially overlapping outer insert having an outer arcuate corner establishing the outer cutting periphery and diameter of the drill. This is the closest specific prior construction of which applicant is aware with the following issued U.S. patents completing the most pertinent prior art known to applicant: U.S. Pat. Nos. 3,938,231 3,540,323, 3,963,365, 3,791,001, 4,047,826 and 3,816,018, the last five patents having been cited in said co-pending application currently awaiting notice of allowance.